A bill to whittle down powers possessed by the Governor of the Central Bank of Nigeria (CBN) sponsored by Senator Sadiq Suleiman Umar representing Kwara North Senatorial district has scaled second reading in the Senate.
The lawmaker sought an amendment to the CBN Act No. 7 for the governor’s power to be divested of the appointment of anyone into the services of the apex bank.
In the lead debate, the lawmaker proposed that the new Chairman of the Board of the Central Bank will have powers to determine the salaries and allowances of members, as the Governor focuses strictly on administrative duties in the running of the Apex Bank.
